Drug giant Pfizer announces staggering profits from COVID vaccine

Credit: Pfizer Twitter

Drug giant Pfizer announces staggering profits from the COVID vaccine. Profits have grown dramatically for the company, and have been boosted by vaccine sales.

On Tuesday, May 3, Pfizer announced its net profits for the first quarter of 2022. The company’s net profit came in at nearly $8 billion for quarter one. This is up more than 60 per cent on the same period last year when the company raked in just under $5 billion. Profits have been boosted dramatically thanks to sales of Pfizer’s coronavirus vaccine.

As reported by La Razon: “Pfizer’s revenue rose 77% year-on-year to $25.661 billion and it earned $1.37 per share in January-March, up from $0.86 a year ago.”

The Pfizer vaccine brought in a revenue of just under £15 billion in total. This is said to be up dramatically from the same period last year. Pfizer’s Paxlovid, an oral antiviral treatment, is said to have raked in more than £1 billion in sales too.

Pfizer revealed that it can expect to earn around $100 billion for the full year with a good proportion this coming from the COVID vaccine and sales of Paxlovid.

Albert Bourla Pfizer’s chief executive revealed that he is “very proud” of the quarter one results. Frank D’Amelio, the chief financial officer, said that so far this year performance has been “solid.”


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Alex
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Alex Glenn

Originally from the UK, Alex is based in Almeria and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

Comments


    • M

      04 May 2022 • 13:45

      Best action for Pfizer is to do is donate to the Ukraine fund a large part of this, to help in the suffering, and show if they are truely there to help humanity or a “just for profit” organisation?

      Reply

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